We are pleased to present First Street Apartments, a 16-unit apartment complex in the desirable city of Alhambra, CA. The property is located near Downtown Alhambra and borders the affluent communities of South Pasadena and San Marino. The property features an ideal unit mix consisting of one and two-bedroom units, gated entry, covered parking, owned laundry facility, individual gas and electric meters, and partial copper plumbing. The asset has been meticulously maintained and professionally managed with upgrades including a new Roof (2016), exterior paint on building and railings, new washers and dryers, and upgraded exterior lighting. Recently renovated units have laminate wood flooring, granite countertops, stainless steel appliances, and new A/C and heating. In-place rents generate a current cap rate of 4.1%, 5.4% with market rents offering an investor approx. 20% rental upside. This is a rare and unique opportunity for an investor to acquire a well maintained asset, in a highly sought-after location.
MLS #
CRPW24067638
MLS Source
California Regional MLS
Days on Site
28
Buyer's Brokerage Compensation*
2.00
Laundry
Community Facility
Garage/Parking
Garage: 0 Car(s)
# Buildings | # Leased Units | # Total Units |
---|---|---|
1 | – | – |
920 N 1st St is a Residential Income in Alhambra, CA 91801. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $5,800,000 and was built in 1959.
This address can also be written as 920 N 1st St, Alhambra, CA 91801.©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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* The offer of compensation is made subject to the MLS rules where the listing is filed. Please contact your agent for any questions concerning this subject matter.
This listing information is up-to-date as of April 24, 2024. For the most current information, please contact Ryan Loria